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The Ministry of Communications on Friday signed a Memorundom Of Understanding (MOU) with the Kwame Nkrumah University of Science and Technology (KNUST), and National Board for Small Scale Industries (NBSSI), to set up a business incubator facility. The business incubator facility is designed to assist business to become established and sustainable.. The facility is also to accelerate the growth of businesses, while helping to manage the risks associated with fast growing, early-stage business. Dr Edward Kofi Omane Boamah, Minister of Communications, said the programme is crucial in supporting the growth of small businesses. He said government has always preached about the partnership with academia and industry, to develop businesses, especially Small and Medium Scale Businesses. Dr Boamah said the project will promote, nurture and sustain innovative businesses to inject some space into the economic development of the country. He said the project targets to support students desirous of setting up their own businesses in key areas such as Information Communication Technology (ICT), especially software development and application. Dr Boamah noted that facility would also project sectors, including agro-based product development and production, aluminium and other precious metal-based products, textiles and garments, fashion and design, as well as relevant machinery and equipment. .Professor William Otoo Elis, Vice Chancellor of the KNUST, said the University is one of the best technology universities in the world and has been working with the NBSSI for years now. He said the KNUST has established a Business Development Centre, adding, "The project is to test the university capacity in terms of technology." Prof Elis assured the Minister of the University's commitment and readiness to deliver on the targets of the project. Mr Abdul Rahim Lukman, Executive Director of NBSSI, said his outfit is committed to providing all the necessary support and expertise to ensure the success of the project.